Deals
Harmony Gold Digging Third-Richest Mine Emerges as Target
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Harmony Gold Mining Co.’s Papua New Guinea mine is shaping up to be the world’s third-richest gold and copper deposit, raising speculation its partner in the venture, Newcrest Mining Ltd., may make a takeover bid.
“I understand they’ve tried to buy it off Harmony and Harmony is obviously not selling it,” said Prasad Patkar, who helps manage about $1.8 billion at Platypus Asset Management Ltd., including shares in Melbourne-based Newcrest. “One option for them is to buy Harmony out completely and then spin out all of the other assets.”